The rupee almost sustained its overnight levels in terms of the dollar on Friday in the process of trading activity, dealers said. According to the market sources, the rupee may not be able to maintain stable trend versus the dollar due to rising uncertainties on political front. The rupee shed two paisas in relation to the dollar for buying and selling at Rs 105.38 and Rs 105.40 respectively, they said.
INTER-BANK MARKET RATES: In the final Asian trade, the dollar held steady versus a basket of currencies, as focus shifted to US jobs data, with President Donald Trump's nomination of Federal Reserve Governor Jerome Powell to be the next Fed chair coming as no surprise.
The dollar index last stood at 94.696, having pulled up from a one-week low of 94.411 set on Thursday. The greenback had slipped on Thursday after Republicans in the US House of Representatives released proposals to overhaul the tax code.
Republicans called for slashing the corporate tax rate to 20 percent from 35 percent, cutting tax rates on companies' foreign profits and on individuals and families. Congressional passage of the legislation, however, was far from certain.
The dollar was trading against the Indian rupee at Rs 64.56, the greenback was at 4.231 in terms of the Malaysian ringgit and the US currency was available at 6.619 in terms of the Chinese yuan.
OPEN MARKET RATES: The rupee was unmoved against the dollar for buying and selling at Rs 107.60 and Rs 107.80 respectively, they said.
The rupee gained 20 paisas in terms of the euro for buying and selling at Rs 124.80 and Rs 126.05 respectively, they said.
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Open Bid Rs.107.60
Open Offer Rs.107.80
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday.
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Bid Rate Rs.105.38
Offer Rate Rs.105.40
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RUPEE IN LAHORE: The Pak rupee moved both ways in relation to the US in the local currency market on Friday.
According to currency dealers, the dollar resumed trading on a divergent note and continued moving both ways throughout the trading session. At the close, it was ended at Rs 107.50 and Rs 107.85 for buying and selling, respectively, as compared to the overnight closing trend of Rs 107.55 and Rs 107.75 respectively, they added.
In addition, the local currency remained strong for the second consecutive day versus the pound sterling. The pound's buying and selling rates further slipped from Thursday's closing of Rs 140.30 and Rs 142.20 to Rs 140.00 and Rs 141.00 respectively, they said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar at the open currency markets of Islamabad and Rawalpindi here on Friday.
The dollar opened at Rs 106.70 (buying) and Rs 107 (selling) against same last rate. It closed at Rs 106.70 (buying) and Rs 107 (selling).
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